Robert Shiller: US House Prices Hit by Weak Labor Market, Gas Prices

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May 01, 2012
Robert Shiller, Yale University professor of economics and co-founder of the Case-Shiller index, told CNBC, "Home prices are very different from stock prices, they show a lot of momentum and once things start down they can go down for five years or ten years so I think it is a dismal time for the Spanish housing market."


He also shared his views on the U.S. housing market which he thinks is still getting impacted by the weak labor market and higher gas prices. He said the inventory of housing is very low but still he can't predict with certainty if the U.S. housing market has hit bottom.


Here is the video: